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February 2015

Found 4 blog entries for February 2015.

Mahogany CalgaryLooks like things aren't slowing down in the outstanding southeast lake community of Mahogany, which led all in applications for single-family home building permits in 2014 in Calgary. According to the city's planning department, the community had 557 permit applications last year.

Interestingly as Mahogany continues its build out, there were 38% more permits issued in 2014 than in 2013, showing just how popular the neighbourhood is for Calgarians looking to build new homes in the master-planned Hopewell community.

People looking to live in Mahogany, which is east of 52 St. SE, immediately south of Stony Trail SE., have a pretty wide variety of homes to choose from if they're looking for a new single-family home including homes with lanes, rear or

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Calgary Flames new arena"Where will the Calgary Flames' new arena be located?" That is the million dollar question and further fuel was thrown on the speculation fire that the new facility could be built at 1720 Bow Trail SW, on the western edge of Downtown. The City of Calgary has confirmed it has purchased four hectares of land at GSL for some $36.9 million. With that, the city now owns more than 12 hectares in the area, including the Greyhound site, which is close to two hectares.

However the city is also pondering creating a "West Village" in that region, so the land purchase could simply be a part of that development, which would be similar to the successful East Village concept on the eastern side of downtown. But the land would be a good home for the Flames' new arena

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Calgary housing starts down in January 2015It might be a blip in the radar, it might be a prelude to what might happen with Calgary's economy in 2015, but housing starts in the city took a huge drop in January. New home construction fell 43.8% in January, to 747 units, according to the Canada Mortgage & Housing Corp. By way of comparison, in January 2014, there were 1,328 housing starts.

Now the pundits will argue this is a result of low oil prices, but it could be the impact of the city's policy to stop growing outward and grow upward in terms of new housing growth. However the multi-family sector also dropped, by 50.7% to 430 units. Startups of single-family homes also declined last month, dropping 29.7 to 317 units from 451 in January 2014, so it could be something more than city policy.

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While Calgary's real estate market swoons along with the price of oil, there could be an big opportunity for a savvy buyer who can take advantage of what could be falling home prices.Calgary real estate market falling

In January, the number of homes sold (879) was down almost 40% from January 2014, according to the Calgary Real Estate Board. Actually in terms of home sales, it was the slowest January in over 7 years. However, home prices have been slow to react, as the median price actually went up from December 2014 and the average home price went down half a percent year over year to less than $461,000.

But in a supply and demand economy, with 37% more new listings on the market (from 3,100 listings to 4,400 in three weeks), prices will go down and the patient buyer can find the

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